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Sunday, 8 September 2019

Sanlam could invest in Egypt within the next year

INVESTMENT WATCH- Sanlam eyes Egypt investments in the next 12 months: South Africa’s largest insurance company Sanlam could invest an undisclosed amount in Egypt within the next 12 months as part of its continental strategy, CEO Ian Kirk told Reuters. Sanlam previously said in March it intended to take an equity stake in an Egyptian firm, but that it hadn’t found a suitable partner. Things don’t appear to have moved that much since then: Kirk said last week that the firm is looking at a number of potential companies, without providing details on which companies it is considering. “I would say [we could invest] within the next 12 months…we’re busy on it,” he said.

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